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BusinessLive reports that financial services group Alexander Forbes Holdings said on Monday that SA’s sluggish economy continued to impede its revenue growth, with its clients having dipped more into their retirement savings during the six months to end-September.
Savings and retirement markets remained under pressure, the group said, demonstrated by the preservation rate for retirement savings declining from 55% to 53% during the period. This refers to the percentage value of retirement funds that are transferred to preservation or retirement solutions after an employee resigns or retires from a company. In the company’s retirement business, members under administration declined 17,000 to 927,000.
- Read the full original of the report in the above regard by Karl Gernetzky at BusinessLive
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